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Simply stated, IFTA works as a "pay now or pay later" system. As commercial motor vehicles buy fuel, any fuel taxes paid are credited to that licensee's account. At the end of the fiscal quarter, the licensee completes a fuel tax report, listing all miles traveled in all participating jurisdictions and lists all gallons purchased.
A fuel tax (also known as a petrol, gasoline or gas tax, or as a fuel duty) is an excise tax imposed on the sale of fuel. In most countries the fuel tax is imposed on fuels which are intended for transportation. Fuel tax receipts are often dedicated or hypothecated to transportation projects, in which case the fuel tax can be considered a user ...
The first US state to tax fuel was Oregon, introduced on February 25, 1919. [4] It was a 1¢/gal tax. [5] In the following decade, all of the US states (48 at the time), along with the District of Columbia, introduced a gasoline tax. By 1939, many states levied an average fuel tax of 3.8¢/gal (1¢/L).
Tax is based on fuel volume, rather than as a percentage of the selling price. [20] With the exception of gas, rates don't vary by fuel type. Some vehicles including local bus services, some farm and construction vehicles and aviation pay reduced or no fuel duty. A fuel duty rebate is available for Bus transport in the United Kingdom. In May ...
Ifta is a municipality in Thuringia, Germany. Ifta or IFTA may also refer to: Ifta (river), a river in Thuringia, Germany; Independent Film & Television Alliance, a US-based trade association; Insect Farming and Trading Agency, a government agency of Papua New Guinea; Institute for Truth in Accounting, United States, advocates transparency in ...
Fuel-management systems are used to maintain, control and monitor fuel consumption and stock in any type of industry that uses transport, including rail, road, water and air, as a means of business. Fuel-management systems are designed to effectively measure and manage the use of fuel within the transportation and construction industries.
Fuel card providers which operate on a bunkering basis aim to achieve a fuel reserve on a particular network in order to achieve a discounted price, therefore taking advantage of economies of scale. For example, a company may purchase one million litres of diesel at 72.50 and aim to sell this on to the customer with a mark up of 2.5 pence per ...
The International Code of Safety for Ships Using Gases or Other Low-flashpoint Fuels, often referred and abbreviated as the IGF Code, is the International Maritime Organization (IMO) standard for the use of gases as a fuel in maritime transport. [1] [2] The Code was adopted in June 2015. [3] It entered into force on 1 January 2017. [4] [5] [2]